Earnings release
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Earnings Release LIVE EVENT OF RESULTS Click here Click here ri.usiminas.com 3Q26 AMANDA AMBRÓSIO UNIGAL Employee
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23Q26 Earnings Release B3: USIM3, USIM5 and USIM6; OTC: USDMY and USNZY; Latibex: XUSIO and XUSI Highlights of 3Q26 Steel Sales 1.0 Mt +5% vs. 2Q26 Iron Ore Sales 2.0 Mt -18% vs. 2Q26 Crude Steel Production +7% vs. 2Q26 Adjusted Consolidated EBITDA R$ 558M -27% vs. 2Q26 Adjusted EBITDA Steel R$ 538M -22% vs. 2Q26 Steel Sales | Domestic Market +5% vs. 2Q26 Adjusted EBITDA Margin Steel 10% -3 pp vs. 2Q26 Net Cash Position* R$ 471M -6% vs. 2Q26 *Cash and investments exceeded gross debt. Net Debt / EBITDA -0.20x +0.02x vs. 2Q26
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Management Comments and Expectations 33Q26 Earnings Release ACCESSRESULTS CENTRAL The business environment in 3Q26 remained challenging, amid imbalances in global steel supply, volatility in international markets and uncertainties regarding the growth of major economies. Against this backdrop, Usiminas maintained its focus on operational efficiency and financial discipline, despite continued pressure on profitability. In Brazil, imports from countries other than China, such as Vietnam, South Korea and Egypt, combined with indirect steel imports, continue to put pressure on the industry, particularly through the inflow of vehicles manufactured abroad or merely assembled in Brazil using imported materials. These vehicles meet part of domestic demand and take market share from automakers and auto parts manufacturers and, indirectly, from the Brazilian steel industry. The continuation of trade defense measures is essential to promote a level playing field and preserve the sustainability of Brazil’s industrial value chain. The progress made by the Government of Minas Gerais in regulating environmental licensing, providing greater clarity, predictability and certainty to the processes, is very positive. For the mining business, a well-structured regulatory environment is essential to provide greater predictability for planning and investments, while maintaining the necessary rigor in environmental assessments. In Mining, we continue to monitor the implementation of the new rules and maintain a constructive dialogue with public authorities, seeking to advance investments in a responsible and sustainable manner. In 3Q26, in the Steel Unit, Adjusted EBITDA reached R$538 million, with a margin of 10%. Steel sales increased by 5% to 1.0 million tons, while net revenue per ton decreased by 0.3% and COGS per ton increased by 2.4%. In Mining, Adjusted EBITDA was R$19 million, with a margin of 3%, amid a 7.9% decline in the iron ore benchmark price. Given lower iron ore prices and high international freight costs, the Company decided to temporarily halt operations at one of its plants, and sales in the quarter decreased by 18.4% to 2.0 million tons. As a result, Consolidated Adjusted EBITDA totaled R$558 million, down 27%, with a margin of 9%, compared to 12% in 2Q26. Maintaining its financial discipline, the Company ended September with a Net Cash Position of R$471 million. For 4Q26, steel sales in the Export Market are expected to increase compared to 3Q26, offsetting the seasonal decline in Domestic Market sales. As a result, a less favorable sales mix is expected to lead to a decrease in net revenue per ton during the period. In addition, continued pressure on cost of sales is expected, particularly from raw materials, inputs and energy. Therefore, a modest decline in the Steel Unit’s operating results is expected in 4Q26. Iron ore sales are expected to decrease due to the current environment for international price and ocean freight. The Company is working to optimize its costs and expenses and is prepared to resume production levels with greater efficiency as the price and freight cost environment normalizes.
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43Q26 Earnings Release Consolidated Values in R$ million 3Q26 2Q26 ∆ 3Q25 ∆ Steel Sales Volume (thousand tons) 1,034 989 5% 1,104 -6% Iron Ore Sales Volume (thousand tons) 2,014 2,469 -18% 2,503 -20% Net Revenue 6,202 6,131 1% 6,604 -6% Adjusted EBITDA 558 761 -27% 434 29% Adjusted EBITDA Margin 9% 12% - 3 pp 7% + 2 pp Net Profit (Loss) 243 428 -43% (3,503) - Investments (CAPEX) 285 323 -12% 266 7% Working capital 6,715 6,313 6% 6,584 2% Cash and Cash Equivalents 6,747 6,823 -1% 6,036 12% Net Debt (471) (499) -6% 327 - Net Debt/Adjusted EBITDA -0.20x -0.22x 0.02x 0.16x -0.35x 43Q26 Earnings Release
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53Q26 Earnings Release Operational and Economic- Financial Performance EDSON CASSIANO, SÂMIA REIS and EDER FELIPE Ipatinga Coke Plant Employees
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63Q26 Earnings Release Consolidated Operating Results – Quarterly R$ thousand 3Q26 2Q26 ∆ 3Q25 ∆ Net Sales Revenue 6,202,422 6,131,378 1% 6,604,238 -6% ➥ Domestic Market 5,316,217 5,082,535 5% 5,253,490 1% ➥ Export Market 886,205 1,048,843 -16% 1,350,748 -34% Cost of Goods Sold (5,559,948) (5,324,925) 4% (6,157,734) -10% Gross Profit 642,474 806,453 -20% 446,504 44% Gross Margin 10% 13% - 3 pp 7% + 4 pp Operating Revenues and Expenses (290,092) (226,698) 28% (2,516,357) -88% ➥ Sales (109,206) (101,144) 8% (131,034) -17% ➥ General and Administrative Expenses (192,646) (199,433) -3% (184,955) 4% ➥ Other Income and Expenses (68,692) (359) 19034% (2,291,584) -97% ➥ Share in the results of jointly controlled subsidiaries and affiliates 80,452 74,238 8% 91,216 -12% Operating profit (loss) 352,382 579,755 -39% (2,069,853) - Operating Margin 6% 9% - 4 pp -31% + 37 pp Depreciation and amortization 235,657 218,847 8% 322,683 -27% EBITDA (CVM Instruction 156) 588,039 798,602 -26% (1,747,170) - EBITDA Margin (CVM Instruction 156) 9% 13% - 4 pp -26% + 36 pp Adjusted EBITDA 558,017 761,311 -27% 434,123 29% Adjusted EBITDA Margin 9% 12% - 3 pp 7% + 2 pp
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73Q26 Earnings Release NET QUARTERLY REVENUE COGS - Cost of Goods Sold - Quarterly QUARTERLY ADJUSTED EBITDA
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83Q26 Earnings Release ADJUSTED EBITDA R$ thousand 3Q26 2Q26 3Q25 Net Income (loss) for the period 243,441 428,182 (3,503,338) Income tax and social contribution 87,171 106,749 1,361,188 Financial Result 21,770 44,824 72,297 Depreciation, Amortization and Depletion 235,657 218,847 322,683 EBITDA (CVM Instruction 156) 588,039 798,602 (1,747,170) (-) Share in the results of subsidiaries, jointly controlled companies and associates (80,452) (74,238) (91,216) (+) Proportional EBITDA of jointly controlled companies 50,430 36,947 46,177 (-) Impairment of non-financial assets net of realization - - 2,226,332 Adjusted EBITDA 558,017 761,311 434,123 ADJUSTED EBITDA MARGIN 9.0% 12.4% 6.6% 434 417 653 761 558 6.6% 6.8% 11.1% 12.4% 9.0% 3Q25 4Q25 1Q26 2Q26 3Q26 Consolidated Adjusted EBITDA and EBITDA Margin (R$ million):
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93Q26 Earnings Release Net Profit (Loss) Consolidated Financial Results R$ thousand 3Q26 2Q26 ∆ 3Q25 ∆ Financial Revenues 195,864 200,678 -2% 200,346 -2% Financial Expenses (234,385) (231,632) 1% (277,906) -16% Net foreign exchange gains and losses 16,751 (13,870) - 5,263 218% ➥Exchange rate variation on assets (709) 73,224 - (61,342) -99% ➥Exchange rate variation on liabilities 17,460 (87,094) - 66,605 -74% FINANCIAL RESULT (21,770) (44,824) -51% (72,297) -70% Currency +Appreciation/-DepreciationR$/US$ 0% 1% - 1 pp 3% - 3 pp R$ thousand 3Q26 2Q26 ∆ 3Q25 ∆ Operating profit (loss) 352,382 579,755 -39% (2,069,853) - Operating Margin 6% 9% - 4 pp -31% + 37 pp Financial Result (21,770) (44,824) -51% (72,297) -70% Profit (loss) before income tax and social contribution. 330,612 534,931 -38% (2,142,150) - Income tax and social contributions (87,171) (106,749) -18% (1,361,188) -94% Net Profit (Loss) in the Period 243,441 428,182 -43% (3,503,338) - Net Margin 3.9% 7.0% - 3 pp -53.0% + 57 pp
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103Q26 Earnings Release In 3Q26, working capital was R$6.7 billion, an increase of R$408 million compared to 2Q26 (R$6.3 billion). The main variations were: Accounts payable decreased by R$447 million, mainly related to raw material suppliers (coke), mining freight providers, as well as CAPEX and service suppliers. Reduction in Forfaiting Operations by R$144 million. Increase in Inventories by R$ 97 million, mainly due to larger inventories of rolled products. Partially offset by: Reduction in Accounts receivable by R$162 million, mainly due to lower revenue at Mineração Usiminas at the end of the period. Reduction in Other Assets by R$50 million, mainly due to the receipt of funds resulting from the outcome of a legal process, recorded in this account in the previous quarter. Working capital Working capital R$ million
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113Q26 Earnings Release Cash, gross debt, net debt and leverage R$ million Net Debt/EBITDA 0.16x -0.22x Cash Flow and Financial Debt - Quarterly *Free cash flow calculated from the sum of "Operating Cash Flow" and "CAPEX". Free Cash Flow* (R$ million) *Cash and cash equivalents, excluding capital expenditures and other investing and financing activities. Operating Cash Flow* and Working Capital variation(R$ Million) -0.20x CAPEX R$ million -0.20x -0.22x 586 575 (120) (184) (403) 878 1,117 370 358 250 3Q25 4Q25 1Q26 2Q26 3Q26 Working Capital Variation Operational Cash Flow 613 744 84 35 (36) 3Q25 4Q25 1Q26 2Q26 3Q26 247 325 210 273 261 19 47 75 50 24 266 372 285 323 285 3Q25 4Q25 1Q26 2Q26 3Q26 Steel Mining 6,036 6,944 6,691 6,823 6,747 6,363 6,499 6,301 6,324 6,277 327 (444) (391) (499) (471) 3Q25 4Q25 1Q26 2Q26 3Q26 Cash and Equivalents Gross Debt Net Debt
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123Q26 Earnings Release R$ thousand Sep-30-26 Sep-30-25 Short Term Long Term TOTAL % TOTAL June-30-26 Δ Sep26/June26 TOTAL Δ Sep26/Sep25 Gross Debt 162,073 6,114,427 6,276,500 100% 6,323,580 -1% 6,363,004 -1% Local Currency 128,071 3,571,899 3,699,970 59% 3,702,925 0% 3,720,081 -1% ➥CDI 93,406 3,511,231 3,604,637 - 3,602,654 0% 3,607,264 0% ➥Tax Installments 34,665 60,668 95,333 - 100,271 -5% 112,817 -15% Foreign Currency* 34,002 2,542,528 2,576,530 41% 2,620,655 -2% 2,642,923 -3% Cash and Cash Equivalents - - 6,747,169 100% 6,822,557 -1% 6,035,997 12% ➥Cash and Cash Equivalents in Local Currency - - 3,585,634 53% 3,714,796 -3% 3,171,073 13% ➥Cash and Equivalents in Foreign Currency - - 3,161,535 47% 3,107,761 2% 2,864,924 10% Net Debt - - (470,669) - (498,972) -6% 327,007 - Gross Debt (Principal Only) - - 6,121,577 - 6,122,888 0% 6,210,424 -1% Debt Profile (R$ millions) Debt Composition Issuance Series Amount (million) Rate (pa) Maturity Bonds - USD 500 7.500% 2032 8th Debenture Issue 2nd Series BRL400 CDI + 1.70% 2028 and 2029 9th Debenture Issue 2nd Series BRL966 CDI + 1.65% 2028 and 2029 3rd Series BRL374 CDI + 1.95% 2030, 2031 and 2032 10th Debenture Issue 1st Series BRL 1,476 CDI + 1.35% 2029 2nd Series BRL303 CDI + 1.50% 2030 and 2031 *100% of the total foreign currency is in US dollars. Debt 3,586 3,162 6,747 6 25 708 2,168 274 274 2,665 Cash 2026 2027 2028 2029 2030 2031 2032 Gross Debt (principal only) Cash (Local Currency) Cash (Foreign Currency) Debt (Local Currency) Debt (Foreign Currency) Debt Maturity: R$: 33 months US$: 54 months
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133Q26 Earnings Release Mining Unit Steel Unit Adjustments Consolidated Operational Performance of the Business Units R$ million 3Q26 2Q26 3Q26 2Q26 3Q26 2Q26 3Q26 2Q26 Net Sales Revenue 668 867 5,610 5,384 (76) (121) 6,202 6,131 ➥Domestic Market 94 136 5,298 5,067 (76) (121) 5,316 5,083 ➥Export Market 574 731 312 318 - - 886 1,049 Cost of Goods Sold (621) (762) (5,015) (4,686) 76 123 (5,560) (5,325) Gross profit or loss 47 106 595 699 0 2 642 806 Operating Revenues and Expenses (48) (51) (218) (96) (24) (80) (290) (227) ➥Sales (57) (67) (52) (34) - - (109) (101) ➥General and Administrative (14) (18) (181) (184) 2 2 (193) (199) ➥Other Income and Expenses (19) (18) (47) 20 (2) (2) (69) (0) ➥Share in the profits of subsidiaries, jointly controlled companies and associates 43 53 61 101 (24) (80) 80 74 Operating profit or loss before financial expenses. (1) 55 377 602 (24) (78) 352 580 Depreciation and Amortization 62 67 173 151 1 1 236 219 EBITDA (CVM Instruction 156) 61 123 550 753 (23) (77) 588 799 EBITDA Margin (CVM Instruction 156) 9% 14% 10% 14% 30% 64% 9% 13% Adjusted EBITDA 19 71 538 688 1 3 558 761 ADJUSTED EBITDA MARGIN 3% 8% 10% 13% -1% -2% 9% 12%
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143Q26 Earnings Release Mining OPERATIONAL AND SALES PERFORMANCE Business Unit kton 3Q26 2Q26 Δ 3Q25 Δ Iron ore production 1,921 2,209 -13.1% 2,412 -20.4% Total sales 2,014 2,469 -18.4% 2,503 -19.5% Exports 1,487 1,856 -19.9% 1,846 -19.5% Domestic Market USIMINAS 344 465 -26.1% 486 -29.2% Domestic Market Third parties 183 147 24.3% 170 7.6% Types of ore sold DOMESTIC MARKET EXPORTS Sales Volume 26% 74% Sinter Feed 64% 100% Lump 36% 0%
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153Q26 Earnings Release MINING UNIT RESULTS COMMENTS - QUARTERLY
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163Q26 Earnings Release Steel Business Unit OPERATIONAL AND SALES PERFORMANCE Thousands of tons 3Q26 2Q26 ∆ 3Q25 ∆ Crude Steel Production 858 803 7% 746 15% Total Flat Rolled Production 1,048 980 7% 1,123 -7% Sales Volume 1,034 989 5% 1,104 -6% Domestic Market 979 930 5% 991 -1% Exports 55 59 -7% 112 -51% FELIPE XAVIER UNIGAL Employee
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173Q26 Earnings Release Main export destinations (% - volume) Comments on steel sales * Excluding sales to Argentina Domestic Market (% - volume) 3Q26 2Q26 ∆ 3Q25 ∆ Automotive 38.2% 37.7% + 0.5 pp 33.1% + 5.1 pp Distribution Network 32.0% 29.8% + 2.2 pp 32.8% - 0.8 pp Industry 29.8% 32.5% - 2.7 pp 34.1% - 4.3 pp 2% 33% 65% 1% 18% 81% South and Central America* Others Argentina 2Q26 3Q26
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183Q26 Earnings Release Variation in Cost of Goods Sold/t Steel Unit – Quarterly R$/t 4,737 (25) 78 59 4,849 2Q26 Volume Price/Mix/Efficiency Others 3Q26
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193Q26 Earnings Release EBITDA Variation – Quarterly Steel Unit R$ millions * Excluding Depreciation and Amortization 688 (19) 32 (107) (69) 14 538 2Q26 Price/Mix Volume COGS* Operating Revenues and Expenses* Others 3Q26
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203Q26 Earnings Release ESG Agenda Sustainability Themes VERÔNICA KETHALLY Seeding Nursery Employee
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213Q26 Earnings Release Sustainability Report 2025 SUSTAINABILITY REPORT 2025 USIMINAS SEEDLING NURSERY Usipa Private Natural Heritage Reserve (RPPN)
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Attachments
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233Q26 Earnings Release BALANCE SHEET – ASSETS | IFRS R$ thousand Sept 30, 2026 June 30, 2026 Sept 30, 2025 CURRENT 16,594,884 16,781,145 16,354,384 Cash and Equivalents 6,747,169 6,822,557 6,035,997 Accounts Receivable 2,907,498 3,069,628 3,307,415 Taxes Recoverable 651,997 631,323 748,682 Inventories 6,016,979 5,920,457 6,089,520 Advances to Suppliers 39,903 7,496 3,103 Other Receivables and Accounts Receivable 231,338 329,684 169,667 NON-CURRENT 18,241,142 18,325,511 18,955,491 Long Term Assets 4,521,854 4,701,093 4,786,967 Deferred Taxes 2,143,970 2,196,520 1,941,462 Deposits at Law 658,747 642,416 587,842 Taxes Recoverable 826,322 978,285 1,409,273 Other 892,815 883,872 848,390 Shareholdings 1,676,700 1,629,739 1,626,679 Investment Property 149,422 149,485 147,559 Fixed Assets 9,968,187 9,906,195 10,387,747 Intangible 1,924,979 1,938,999 2,006,539 TOTAL ASSETS 34,836,026 35,106,656 35,309,875 BALANCE SHEET – LIABILITIES | IFRS R$ thousand Sept 30, 2026 June 30, 2026 Sept 30, 2025 CURRENT 3,212,685 3,777,846 3,885,371 Loans, Financing and Installment Taxes 162,073 207,965 162,926 Suppliers, Contractors and Freight 2,370,116 2,816,693 2,246,795 Salaries and Social Charges 388,009 334,174 391,790 Taxes and Duties Collectible 131,994 144,573 159,634 Notes payable - Forfaiting 0 143,697 674,565 Salaries Payable 616 1,268 20,086 Advances to Customers 67,449 53,319 69,083 Other 92,428 76,157 160,492 NON-CURRENT 7,652,715 7,683,719 7,787,177 Loans, Financing and Installment Taxes 6,114,426 6,115,614 6,200,078 Actuarial Liabilities Paid 504,190 535,778 554,397 Provisions for Legal Expenses 507,527 507,374 549,286 Provision for Environmental Recovery 270,490 266,181 243,971 Other 256,082 258,772 239,445 NET WORTH 23,970,626 23,645,091 23,637,327 Equity Capital 13,200,295 13,200,295 13,200,295 Reserves and Accumulated Retained Profit 7,853,956 7,550,859 7,551,032 Non-Controlling Shareholders 2,916,375 2,893,937 2,886,000 TOTAL LIABILITIES 34,836,026 35,106,656 35,309,875
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243Q26 Earnings Release CONSOLIDATED QUARTERLY INCOME STATEMENT |IFRS R$ thousand 3Q26 2Q26 ∆ 3Q25 ∆ Net Sales Revenue 6,202,422 6,131,378 1% 6,604,238 -6% ➥ Domestic Market 5,316,217 5,082,535 5% 5,253,490 1% ➥ Export Market 886,205 1,048,843 -16% 1,350,748 -34% Cost of Goods Sold (5,559,948) (5,324,925) 4% (6,157,734) -10% Gross Profit 642,474 806,453 -20% 446,504 44% GROSS MARGIN 10% 13% - 3 pp 7% + 4 pp Operating Income (Expense) (290,092) (226,698) 28% (2,516,357) -88% ➥ Sales (109,206) (101,144) 8% (131,034) -17% ➥General and Administrative Expenses (192,646) (199,433) -3% (184,955) 4% ➥ Share in the results of subsidiaries, jointly controlled companies and associates 80,452 74,238 8% 91,216 -12% ➥ Other Income and Expenses (68,692) (359) 19034% (2,291,584) -97% Contingencies and Legal Agreements (20,550) (12,187) 69% (15,205) 35% Expenses with idle equipment (Includes depreciation) (10,151) (9,003) 13% (30,708) -67% Impairment Investments/Assets - - - (2,226,332) - Taxes (12,173) (19,259) -37% (19,333) -37% Retirement Plan and Health Benefits (14,502) (14,466) 0% (16,790) -14% Recovery of Funds - Defined Benefit Pension Plan - 56,787 - - - Results from the Sale/Retirement of Real Estate, Investments, and Intangible Assets. 6,889 13,010 -47% 17,231 -60% Other Income and Expenses (18,205) (15,241) 19% (447) 3973% Operating Profit (Loss) 352,382 579,755 -39% (2,069,853) - OPERATING MARGIN 6% 9% - 4 pp -31% + 37 pp Financial Income and Expenses (21,770) (44,824) -51% (72,297) -70% ➥ Financial Income 195,864 200,678 -2% 200,346 -2% Income on Financial Investments 154,234 153,575 0% 149,560 3% Customer Interest 10,897 5,942 83% 10,028 9% Reversal of provision / deposits and legal claims adjustments 5,471 5,182 6% 6,798 -20% Other Financial Income 25,262 35,979 -30% 33,960 -26% ➥ Financial Expenses (234,385) (231,632) 1% (277,906) -16% Interest and Monetary Effects on Loans, Financing, and Other Obligations (190,493) (183,604) 4% (208,958) -9% Interest, commissions and late payment expenses (7,261) (7,407) -2% (8,245) -12% Commissions and Other Costs on Financing. (3,097) (3,074) 1% (4,308) -28% Interest on Contingent Liabilities (12,483) (15,069) -17% (13,969) -11% Other Financial Expenses (21,051) (22,478) -6% (42,426) -50% ➥ Exchange gains and losses, net 16,751 (13,870) - 5,263 218% Profit (Loss) before Income Tax and Social Contribution. 330,612 534,931 -38% (2,142,150) - ➥ Income tax and social contribution (87,171) (106,749) -18% (1,361,188) -94% Net Income (loss) for the period 243,441 428,182 -43% (3,503,338) - NET MARGIN 4% 7% - 3 pp -53% + 57 pp To the Company's Shareholders 229,193 382,372 -40% (3,539,981) - Non-controlling Interest 14,248 45,810 -69% 36,643 -61% EBITDA (CVM Instruction 156) 588,039 798,602 -26% (1,747,170) - EBITDA MARGIN (CVM Instruction 156) 9% 13% - 4 pp -26% + 36 pp Adjusted EBITDA 558,017 761,311 -27% 434,123 29% ADJUSTED EBITDA MARGIN 9% 12% - 3 pp 7% + 2 pp Depreciation and Amortization 235,657 218,847 8% 322,683 -27%
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253Q26 Earnings Release Consolidated Accumulated Income Statement | IFRS R$ thousand 9M26 9M25 ∆ Net Sales Revenue 18,204,789 20,088,363 -9% ➥ Domestic Market 15,300,197 16,132,458 -5% ➥ Export Market 2,904,592 3,955,905 -27% Cost of Goods Sold (16,047,302) (18,375,873) -13% Gross Profit 2,157,487 1,712,490 26% GROSS MARGIN 11.85% 8.52% + 3 pp Operating Income (Expense) (851,508) (3,210,322) -73% ➥ Sales (327,881) (386,865) -15% ➥General and Administrative Expenses (580,371) (558,868) 4% ➥ Share in the results of subsidiaries, jointly controlled companies and associates 199,577 230,777 -14% ➥ Other Income and Expenses (142,833) (2,495,366) -94% Contingencies and Legal Agreements (58,095) (103,858) -44% Expenses with idle equipment (Includes depreciation) (27,002) (98,817) -73% Impairment Investments/Assets - (2,226,332) - Taxes (46,121) (73,116) -37% Retirement Plan and Health Benefits (43,821) (50,406) -13% Recovery of Funds - Defined Benefit Pension Plan 56,787 - - Results from the Sale/Retirement of Real Estate, Investments, and Intangible Assets. 18,564 53,359 -65% Other Income and Expenses (43,145) 3,804 - Operating Profit (Loss) 1,305,979 (1,497,832) - OPERATING MARGIN 7% -7% + 15 pp Financial Income and Expenses 43,426 (108,044) - ➥ Financial Income 657,686 601,422 9% Income on Financial Investments 505,513 433,977 16% Customer Interest 24,536 25,657 -4% Reversal of provision / deposits and legal claims adjustments 14,580 35,815 -59% Other Financial Income 113,057 105,973 7% ➥ Financial Expenses (715,303) (853,136) -16% Interest and Monetary Effects on Loans, Financing, and Other Obligations (572,435) (624,940) -8% Interest, commissions and late payment expenses (22,197) (24,501) -9% Commissions and Other Costs on Financing. (9,326) (22,525) -59% Interest on Contingent Liabilities (36,770) (57,123) -36% Other Financial Expenses (74,575) (124,047) -40% ➥ Exchange gains and losses, net 101,043 143,670 -30% Profit (Loss) before Income Tax and Social Contribution. 1,349,405 (1,605,876) - ➥ Income tax and social contribution 218,368 (1,432,840) - Net Income (loss) for the period 1,567,773 (3,038,716) - NET MARGIN 8.6% -15.1% + 24 pp To the Company's Shareholders 1,383,001 (3,143,946) - Non-controlling Interest 184,772 105,230 76% EBITDA (CVM Instruction 156) 2,041,362 (547,928) - EBITDA MARGIN (CVM Instruction 156) 11% -3% + 14 pp Adjusted EBITDA 1,972,485 1,575,253 25% ADJUSTED EBITDA MARGIN 11% 8% + 3 pp Depreciation and Amortization 735,383 949,904 -23%
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263Q26 Earnings Release Consolidated Quarterly Cash Flow | IFRS R$ thousand 3Q26 2Q26 3Q25 Cash Flows from Operating Activities ➥ Net Income (Loss) for the Period 243,441 428,182 (3,503,338) ➥ Charges and Monetary/Exchange Variations, Net (66,159) (96,037) (37,619) ➥ Interest Expenses 196,542 190,533 213,995 ➥ Depreciation and Amortization 235,660 218,847 322,683 ➥ Gain/Loss on Sale of Property, Plant and Equipment/Investments (6,889) (13,010) (17,231) ➥ Share of Profit/Loss of Subsidiaries (80,452) (74,238) (91,216) ➥ Asset Impairment - - 2,226,332 ➥ Current Income Tax and Social Contribution (4,182) 32,298 15,675 ➥ Deferred Income Tax and Social Contribution 91,353 74,451 1,345,513 ➥ Provision Additions (Reversals) 1,450 13,315 23,184 ➥ Actuarial Gains and Losses 14,313 14,269 16,791 Total 625,077 788,610 514,769 (Increase)/Decrease of Assets ➥ Trade Accounts Receivable 196,677 (33,268) (30,139) ➥ Inventories (24,646) (278,504) 1,092,368 ➥ Recoverable Taxes (4,749) 95,598 73,379 ➥ Judicial Deposits (8,703) (6,802) (2,906) ➥ Advances to Suppliers (84,120) (4,637) (1,474) ➥ Other Assets 326,264 (72,188) (3,669) Total 400,723 (299,801) 1,127,559 Increase /(Decrease) in Liabilities ➥ Suppliers, Contractors and Freight (449,765) 525,254 (493,656) ➥ Amounts Payable to Related Companies - 1 - ➥ Advances from Customers 14,079 (27,980) 5,739 ➥ Taxes Payable 41,405 (27,169) 24,434 ➥ Accounts Payable – Forfaiting (144,142) (355,400) (8,492) ➥ Actuarial Liabilities Paid (24,347) (24,104) (23,304) ➥ Other Liabilities 44,626 (52,107) 58,920 Total (518,144) 38,495 (436,359) Cash Generated from Operating Activities 507,656 527,304 1,205,969 ➥ Interest Paid (231,676) (135,533) (281,925) ➥ Income Tax and Social Contribution Paid (17,169) (24,120) (32,114) ➥ Settlement of Derivative Financial Instrument Transactions (9,119) (9,750) (13,813) Net Cash Provided by Operating Activities 249,692 357,901 878,117 Cash Flows from Investing Activities ➥Marketable Securities (1,127,355) 430,661 (163,167) ➥Capital increase in subsidiaries - - (45) ➥Purchases of Property, Plant and Equipment (262,755) (256,100) (246,396) ➥Proceeds from Sale of Property, Plant and Equipment 8,114 13,543 16,506 ➥Dividends Received 4,600 4,835 9,100 ➥Purchases of Intangible Assets (14,738) (67,207) (19,216) Net Cash Used in Investing Activities (1,392,134) 125,732 (403,218) Cash Flows from Financing Activities ➥ Proceeds from Loans, Financing and Debentures ➥ Repayments of Loans, Financing and Debentures - - (1,307,993) ➥Payment of Taxes in Installments (8,197) (7,984) (6,345) ➥Payment of Lease Liabilities (7,736) (7,833) (8,509) ➥Dividends and Interest on Equity Paid - (13,694) (1) Net Cash Provided by (Used in) Financing Activities (15,933) (29,511) (1,322,848) Exchange Rate Variation on Cash and Cash Equivalents (44,368) 108,041 (23,182) Net Increase (Decrease) in Cash and Cash Equivalents (1,202,743) 562,163 (871,131) Cash and Cash Equivalents at Beginning of Period 5,274,257 4,712,094 5,952,963 Cash and Cash Equivalents at End of Period 4,071,514 5,274,257 5,081,832 RECONCILIATION WITH CASH AND CASH EQUIVALENTS LINE IN THE BALANCE SHEET Beginning Balance of Cash and Cash Equivalents 5,274,257 4,712,094 5,952,963 Beginning Balance of Marketable Securities 1,548,300 1,978,961 790,998 Cash and Cash Equivalents at Beginning of Period 6,822,557 6,691,055 6,743,961 Net Increase (Decrease) in Cash and Cash Equivalents (1,202,743) 562,163 (871,131) Net Increase (Decrease) in Marketable Securities 1,127,355 (430,661) 163,167 Ending Balance of Cash and Cash Equivalents 4,071,514 5,274,257 5,081,832 Ending Balance of Marketable Securities 2,675,655 1,548,300 954,165 Cash and Cash Equivalents at End of Period 6,747,169 6,822,557 6,035,997
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273Q26 Earnings Release CONSOLIDATED ACCUMULATED CASH FLOW | IFRS R$ thousand 9M26 9M25 Cash Flows from Operating Activities ➥Net Income (Loss) for the Period 1,567,773 (3,038,716) ➥Charges and Monetary/Exchange Variations, Net (152,384) (313,934) ➥Interest Expenses 590,550 632,305 ➥Depreciation and Amortization 735,386 949,904 ➥Gain/Loss on Sale of Property, Plant and Equipment/Investments (18,564) (53,359) ➥Share of Profit/Loss of Subsidiaries (199,577) (230,777) ➥Asset Impairment - 2,226,332 ➥Current Income Tax and Social Contribution 72,243 117,108 ➥Deferred Income Tax and Social Contribution (290,611) 1,315,732 ➥Provision Additions (Reversals) 66,268 195,519 ➥Actuarial Gains and Losses 43,223 50,406 Total 2,414,307 1,850,520 (Increase)/Decrease of Assets ➥Trade Accounts Receivable 82,782 (108,163) ➥Inventories (426,087) 1,327,941 ➥Recoverable Taxes 358,768 (19,385) ➥Judicial Deposits (27,437) (18,381) ➥Advances to Suppliers (88,412) (1,454) ➥Other Assets 207,991 (154,964) Total 107,605 1,025,594 Increase /(Decrease) in Liabilities ➥Suppliers, Contractors and Freight (129,578) (786,761) ➥Amounts Payable to Related Companies - (27,612) ➥Advances from Customers 6,345 13,306 ➥Taxes Payable 24,732 199,392 ➥Accounts Payable – Forfaiting (536,798) (189,538) ➥Actuarial Liabilities Paid (72,027) (66,992) ➥Other Liabilities (138,467) (141,559) Total (845,793) (999,764) Cash Generated from Operating Activities 1,676,119 1,876,350 ➥Interest Paid (605,424) (688,765) ➥Income Tax and Social Contribution Paid (69,513) (110,321) ➥Settlement of Derivative Financial Instrument Transactions (23,950) (14,519) Net Cash Provided by Operating Activities 977,232 1,062,745 Cash Flows from Investing Activities ➥Marketable Securities (873,677) (200,526) ➥Capital increase in subsidiaries - (45) ➥Purchases of Property, Plant and Equipment (783,303) (729,356) ➥Proceeds from Sale of Property, Plant and Equipment 20,626 54,411 ➥Dividends Received 14,450 20,184 ➥Purchases of Intangible Assets (102,638) (88,737) Net Cash Used in Investing Activities (1,724,542) (944,069) Cash Flows from Financing Activities - - ➥Proceeds from Loans, Financing and Debentures - 2,946,250 ➥Repayments of Loans, Financing and Debentures - (2,936,089) ➥Payment of Taxes in Installments (23,952) (19,037) ➥Payment of Lease Liabilities (23,281) (25,376) ➥Dividends and Interest on Equity Paid (46,553) (11,071) Net Cash Provided by (Used in) Financing Activities (93,786) (45,323) Exchange Rate Variation on Cash and Cash Equivalents (229,007) (191,863) Net Increase (Decrease) in Cash and Cash Equivalents (1,070,103) (118,510) Cash and Cash Equivalents at Beginning of Period 5,141,617 5,200,342 Cash and Cash Equivalents at End of Period 4,071,514 5,081,832 RECONCILIATION WITH CASH AND CASH EQUIVALENTS LINE IN THE BALANCE SHEET Beginning Balance of Cash and Cash Equivalents 5,141,617 5,200,342 Beginning Balance of Marketable Securities 1,801,978 753,639 Cash and Cash Equivalents at Beginning of Period 6,943,595 5,953,981 Net Increase (Decrease) in Cash and Cash Equivalents (1,070,103) (118,510) Net Increase (Decrease) in Marketable Securities 873,677 200,526 Ending Balance of Cash and Cash Equivalents 4,071,514 5,081,832 Ending Balance of Marketable Securities 2,675,655 954,165 Cash and Cash Equivalents at End of Period 6,747,169 6,035,997
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Leonardo Karam Rosa leonardo.rosa@usiminas.com +55 31 3499-8550 Felipe Gabriel Pinheiro Rodrigues f.gabriel@usiminas.com +55 31 3499-8710 João Victor Nobre do Prado joao.prado@usiminas.com +55 31 3499-8178 Investor Relations